Investment timing and optimal capital structure under liquidity risk
(2017)
Journal Article
Wang, H., Xu, Q., & Yang, J. (2018). Investment timing and optimal capital structure under liquidity risk. European Journal of Finance, 24(11), 889-908. https://doi.org/10.1080/1351847x.2017.1356342
© 2017 Informa UK Limited, trading as Taylor & Francis Group. Deterioration in debt market liquidity reduces debt values and affects firms' decisions. Considering such risk, we develop an investment timing model and obtain analytic solutions. We ca... Read More about Investment timing and optimal capital structure under liquidity risk.